The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-01
1o86-l887.

OF course, been occasional haltS In the march
of improvement, and some serious interrupt
tons Of business. Most notable and mem
the great railroad strike in the Southwest, the
labor riots at Chicago, and the eight-hour
strikes all over the country. That these
events had depressing effect on business at
the time cannot be denied, and probably the
aggregate results Of the year are not as en-
couraging as they would have been other
wise. But great as these disturbances were
their effect was but temporary and transient.
They certainly did cause a shock to reviving
confidence, arrest the anticipated growth of
trade, and reduce the transactions of the year
below what they would else have been; but
confidence soon recovered from the shock,
business was resumed with renewed energy,
and, in spite of these drawbacks, the aggre-
gate trade transactions of the last year far ex-
ceeded those of any of its predecessors. The
troubles referred to were very damaging to bust
ness while they lasted, but later events have
shown that the great business heart Of the
Countrywide vital arteries of trade-were
untouched. The rapidity and ease with
| from these serious disturbances furnishes a
| remarkable illustration of the elasticity and
| recuperative power of the American people.
Another disturbing cause, and one that is
still felt in some degree, was the tariff agita-
| ton in the last session of Congress. AS
long as there was probability or danger Of a
| general tearing up and turning over of
| business interests under the pretense of re-
| forming the tariff, capital was timid and
trade sluggish Investors held on to their
money, manufacturers curtailed operations,
and enterprises of all kinds languished. As
soon as the free-traders were defeated con-
fdence revived and capital began to seek in
began to branch out and new ones to be
started, fires were lighted and idle workmen
were given employment. With the present
session of Congress the free trade agitation
was renewed. but received its quietus SO
soon that its injurious effect on business was
hardly perceptible. No doubt it will be
again renewed, and have to be met again.
1t is an ever-present evil, perpetual men
ace to trade. 1t is not so much that the
American people could not do bust
ness and prosper under tariff very
different from the present one, perhaps even
under free-trade system, for they can adapt
themselves to anything and do business under
the constant agitation and threatened inter-
ference with the established order of things
that alarms and wearies the people. The bust
ness interests of the country want rest.
They demand repose and ask to be let alone.
They dread agitation and deprecate frequent
changes. The people would rather put UP
with the imperfections of any system under
which they are prospecting reasonably we'll
the tariff system the railroad system, OF any
other-than incur the possible disasters in
volved in radical change. "Festina lente'
is good motto for statesmen as we'll as re-
formers: they should learn to 90 slow.
But, in spite of drawbacks, there has been
great improvement in the business of the
country during the last year. All portions Of
the country and all branches of trade have
participated in the improvement, but some
more than others. In this city it has beer
very marked. There is no branch of trade OF
business interest that is not in better condi
ton now than it was year ago, aud that viii
not begin 1887 with brighter pros
poets than it did 1885, This ma,
not be true Of every individual engaged il
trade, but it is true of every branch of trade
The volume of business in all lines has in
creased The large increase in our clearing
house transactions during the year has been
subject Of general remark. The railroads cen
tering here all report a decided increase O
business over last year. 1t is estimated tina
the local railroad traffic has increased So pc
cent. and the through traffic 90 per cent. TIL
coal business has increased about 10 per cent
I Of indianapolis, as of the country at large. i
{ may be said at the threshold of the new yea
that never was its business in a more health,
and fourishing condition or the future pros
| pect brighter. ga Happy New Year has
substantial sound this morning.
|. nE<.z-.-..s
q THE Pittsburg Dispatch intimates that til